SINGAPORE (Dec 17): After a hiatus of almost five months, HC Surgical Specialists has bought back its first tranche of shares just as its associate company Medinex was listed on the Singapore Exchange.

On Dec 7, HCSS, whose CEO is Dr Heah Sieu Min, bought 180,000 shares at an average price of 62.5 cents, paying a total of nearly $113,000. The previous share buyback of 300,000 shares was made on July 23 at a higher average price of 67 cents.

Under the company’s current mandate, HCSS can buy back as much as 14.9 million shares, or 10% of its total share base. HCSS was more active in share buybacks at the end of calendar year 2017. Over four days in November 2017, it bought back a total of 609,900 shares in a tight price range of 69 cents to 70 cents.

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